Leading provider of benefits and compliance administration solutions to government-sponsored health plans positioned for continued growth and innovation
Fort Lauderdale, Fla. & New York
Convey Health Solutions, Inc., a leading provider of technology solutions for government-sponsored health insurance plans, today announced that it has partnered with New Mountain Capital, LLC, a growth-oriented investment firm that currently manages over $15 billion in assets.
Headquartered in Fort Lauderdale, FL, Convey delivers business process technology and solutions that simplify processes for Medicare Part D and Medicare Advantage programs while driving regulatory compliance and reducing associated administration costs. Convey’s exclusive healthcare focus and proprietary technology platform allow it to efficiently manage end-to-end health insurance processes for its customers, from eligibility and enrollment processing to premium billing and payment processing, reconciliation and other related services.
“We are excited to be partnering with New Mountain Capital and look forward to working with their team to continue to bring best-in-class technology and solutions to our customers,” said Steve Farrell, CEO of Convey. “Given New Mountain’s focus on building businesses and driving growth, we anticipate having more resources to help us continue to enhance our services and to deliver even more value to our customers.”
“Convey is a clear leader in compliance-driven benefits administration, and we are excited to support the Company in its next phase of growth,” said Matt Holt, Managing Director of New Mountain. “Since its inception, Convey has been completely dedicated to ensuring the success of its clients. We look forward to working with Convey’s management team to accelerate growth while maintaining the same high level of customer service that has always been at the core of the Company’s focus.”
Eir Partners is co-investing in the transaction with New Mountain Capital. Eir Partners, along with TripleTree, advised New Mountain in the transaction. Houlihan Lokey represented Convey in the transaction.
Convey Health Solutions is a specialized healthcare technology and business process outsourcing firm that is committed to providing clients with healthcare-specific, compliant member support solutions utilizing technology, engagement, and analytics. Through its centers in Florida, Arizona, Illinois, and the Philippines, Convey Health Solutions creates better business results and better healthcare consumer experiences on behalf of business customers and partners. The company’s clients include some of the nation’s leading health insurance companies and pharmacy benefit management firms. Their healthcare-focused teams help several million Americans each year to navigate the complex Part D Medicare and Medicare Advantage landscape. Learn more at www.ConveyHealthSolutions.com.
About New Mountain Capital
New Mountain Capital is a New York based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity, and credit funds with over $15 billion in aggregate capital commitments. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit www.newmountaincapital.com.
About Eir Partners
Eir Partners is a New York City based investment company and strategic partnership focused exclusively on the dynamic healthcare and technology marketplace. Eir’s flexible model allows for customized collaboration to accelerate disruption, innovation and growth through direct investment and the augmentation of strategic development and acquisition sourcing. The investment model allows for direct platform investments as the sole investor or alongside strategic or other blue chip private equity institutions. Targeted stages of investment include growth equity through control buyouts. For more information on Eir, please visit www.eirpartners.com.
For New Mountain Capital:
Dana Gorman, 212-371-5999